The magistrate has spoken—Australian betting operator Tabcorp needs to cough up close to AUD120,000 for publishing illegal advertising in New South Wales.

In December, Sydney’s Downing Centre Local Court found the gambling operator guilty of three counts of illegally luring punters to open accounts. The promotion in question was published in a newspaper and online in August 2015 and offered bonus bets as well as other rewards as inducements.

Fast forward to Tuesday, when Tabcorp—which has denied the charges—was sentenced to pay a total fine of AUD16,500 (USD12,596) and also ordered to pay legal cost amounting to AUD100,000 (USD76,340), according to The Australian.

Magistrate Susan McIntyre, who imposed the maximum penalty of $5500 for each of the charges, said it was “crystal clear” that each of the ads was in breach of regulations aimed at protecting problem gamblers and would-be problem gamblers from engaging in further gambling activity.

The magistrate has spoken—Australian betting operator Tabcorp needs to cough up close to AUD120,000 for publishing illegal advertising in New South Wales.

In December, Sydney’s Downing Centre Local Court found the gambling operator guilty of three counts of illegally luring punters to open accounts. The promotion in question was published in a newspaper and online in August 2015 and offered bonus bets as well as other rewards as inducements.

Fast forward to Tuesday, when Tabcorp—which has denied the charges—was sentenced to pay a total fine of AUD16,500 (USD12,596) and also ordered to pay legal cost amounting to AUD100,000 (USD76,340), according to The Australian.

Magistrate Susan McIntyre, who imposed the maximum penalty of $5500 for each of the charges, said it was “crystal clear” that each of the ads was in breach of regulations aimed at protecting problem gamblers and would-be problem gamblers from engaging in further gambling activity.

The magistrate has spoken—Australian betting operator Tabcorp needs to cough up close to AUD120,000 for publishing illegal advertising in New South Wales.

In December, Sydney’s Downing Centre Local Court found the gambling operator guilty of three counts of illegally luring punters to open accounts. The promotion in question was published in a newspaper and online in August 2015 and offered bonus bets as well as other rewards as inducements.

Fast forward to Tuesday, when Tabcorp—which has denied the charges—was sentenced to pay a total fine of AUD16,500 (USD12,596) and also ordered to pay legal cost amounting to AUD100,000 (USD76,340), according to The Australian.

Magistrate Susan McIntyre, who imposed the maximum penalty of $5500 for each of the charges, said it was “crystal clear” that each of the ads was in breach of regulations aimed at protecting problem gamblers and would-be problem gamblers from engaging in further gambling activity.

The magistrate has spoken—Australian betting operator Tabcorp needs to cough up close to AUD120,000 for publishing illegal advertising in New South Wales.

In December, Sydney’s Downing Centre Local Court found the gambling operator guilty of three counts of illegally luring punters to open accounts. The promotion in question was published in a newspaper and online in August 2015 and offered bonus bets as well as other rewards as inducements.

Fast forward to Tuesday, when Tabcorp—which has denied the charges—was sentenced to pay a total fine of AUD16,500 (USD12,596) and also ordered to pay legal cost amounting to AUD100,000 (USD76,340), according to The Australian.

Magistrate Susan McIntyre, who imposed the maximum penalty of $5500 for each of the charges, said it was “crystal clear” that each of the ads was in breach of regulations aimed at protecting problem gamblers and would-be problem gamblers from engaging in further gambling activity.

The magistrate has spoken—Australian betting operator Tabcorp needs to cough up close to AUD120,000 for publishing illegal advertising in New South Wales.

In December, Sydney’s Downing Centre Local Court found the gambling operator guilty of three counts of illegally luring punters to open accounts. The promotion in question was published in a newspaper and online in August 2015 and offered bonus bets as well as other rewards as inducements.

Fast forward to Tuesday, when Tabcorp—which has denied the charges—was sentenced to pay a total fine of AUD16,500 (USD12,596) and also ordered to pay legal cost amounting to AUD100,000 (USD76,340), according to The Australian.

Magistrate Susan McIntyre, who imposed the maximum penalty of $5500 for each of the charges, said it was “crystal clear” that each of the ads was in breach of regulations aimed at protecting problem gamblers and would-be problem gamblers from engaging in further gambling activity.

Macau casino junket investor Iao Kun Group Holding Company (IKGH) is set to test the technology sector with its major acquisition of a Chinese-tech firm.

The move comes as IKGH answer to stanch the financial bleeding as a result of bad VIP debts. Shifting its strategy from the junket to technological industry may provide additional support to the company that has been crippled by financial tailspin.

In a press release, IKGH announced it is acquiring 51 percent of software technology development company Jia-Heng Industrial Ltd, the holding company of Guangzhou LiNiu Network Technology Co Ltd..

IKGH said that LiNiu Network is currently internally testing its new electronic trading platform, which is scheduled to launch before the end of the first half 2017.

Macau casino junket investor Iao Kun Group Holding Company (IKGH) is set to test the technology sector with its major acquisition of a Chinese-tech firm.

The move comes as IKGH answer to stanch the financial bleeding as a result of bad VIP debts. Shifting its strategy from the junket to technological industry may provide additional support to the company that has been crippled by financial tailspin.

In a press release, IKGH announced it is acquiring 51 percent of software technology development company Jia-Heng Industrial Ltd, the holding company of Guangzhou LiNiu Network Technology Co Ltd..

IKGH said that LiNiu Network is currently internally testing its new electronic trading platform, which is scheduled to launch before the end of the first half 2017.

Macau casino junket investor Iao Kun Group Holding Company (IKGH) is set to test the technology sector with its major acquisition of a Chinese-tech firm.

The move comes as IKGH answer to stanch the financial bleeding as a result of bad VIP debts. Shifting its strategy from the junket to technological industry may provide additional support to the company that has been crippled by financial tailspin.

In a press release, IKGH announced it is acquiring 51 percent of software technology development company Jia-Heng Industrial Ltd, the holding company of Guangzhou LiNiu Network Technology Co Ltd..

IKGH said that LiNiu Network is currently internally testing its new electronic trading platform, which is scheduled to launch before the end of the first half 2017.

Macau casino junket investor Iao Kun Group Holding Company (IKGH) is set to test the technology sector with its major acquisition of a Chinese-tech firm.

The move comes as IKGH answer to stanch the financial bleeding as a result of bad VIP debts. Shifting its strategy from the junket to technological industry may provide additional support to the company that has been crippled by financial tailspin.

In a press release, IKGH announced it is acquiring 51 percent of software technology development company Jia-Heng Industrial Ltd, the holding company of Guangzhou LiNiu Network Technology Co Ltd..

IKGH said that LiNiu Network is currently internally testing its new electronic trading platform, which is scheduled to launch before the end of the first half 2017.

Lawmakers in the Philippines are a step closer to including casinos in the covering of the Anti-Money Laundering Act (AMLA).

This week, Rep. Ben Evardone, chairman of the committee on banks and financial intermediaries, confirmed that his panel has “agreed in principle to endorse the inclusion of casinos in the law,” the Philippine Star reported.

The lawmakers have formed a small group, who are given the task of consolidating three related bills—including one which proposes to set the threshold amount at PHP500,000 (USD10,000), while another proposes to fix the amount at PHP5 million (USD100,118).

“The only issue that remains to be resolved has to do with the threshold amount that would trigger the filing of a suspicion transaction report with the Anti-Money Laundering Council (AMLC),” Evardone was quoted by the news outlet saying.

Lawmakers in the Philippines are a step closer to including casinos in the covering of the Anti-Money Laundering Act (AMLA).

This week, Rep. Ben Evardone, chairman of the committee on banks and financial intermediaries, confirmed that his panel has “agreed in principle to endorse the inclusion of casinos in the law,” the Philippine Star reported.

The lawmakers have formed a small group, who are given the task of consolidating three related bills—including one which proposes to set the threshold amount at PHP500,000 (USD10,000), while another proposes to fix the amount at PHP5 million (USD100,118).

“The only issue that remains to be resolved has to do with the threshold amount that would trigger the filing of a suspicion transaction report with the Anti-Money Laundering Council (AMLC),” Evardone was quoted by the news outlet saying.

Lawmakers in the Philippines are a step closer to including casinos in the covering of the Anti-Money Laundering Act (AMLA).

This week, Rep. Ben Evardone, chairman of the committee on banks and financial intermediaries, confirmed that his panel has “agreed in principle to endorse the inclusion of casinos in the law,” the Philippine Star reported.

The lawmakers have formed a small group, who are given the task of consolidating three related bills—including one which proposes to set the threshold amount at PHP500,000 (USD10,000), while another proposes to fix the amount at PHP5 million (USD100,118).

“The only issue that remains to be resolved has to do with the threshold amount that would trigger the filing of a suspicion transaction report with the Anti-Money Laundering Council (AMLC),” Evardone was quoted by the news outlet saying.

As Bitcoin continues to gain a foothold in the currency market both Bodog’s Asian facing website, Bodog88.com and Bodog.eu are now offering deposits and withdrawals in the burgeoning cryptocurrency.

Why is this a big deal? Traditional currency transfers directly benefit the banks and credit card companies at the expense of both the customer and the vendor whereas Bitcoin cuts out this double-dipping and ensures a fairer system for everybody.

As online companies increasingly embrace Bitcoin the power shifts to consumers and puts them in more direct control of their money so it’s a classic ‘win-win’. Bitcoin is already available through major retail brands like Expedia, PayPal and Subway.

Bodog are the first in their sector to offer the widest range of payment options which in turn helps to break down the barriers to entry for the online gaming sector.

Months after signalling its intention to regulate cryptocurrency in the Philippines, the Bangko Sentral ng Pilipinas (BSP) has finally released the new guidelines for bitcoin exchanges operating in the country.

Under the BSP Circular No. 944, signed last Monday, businesses that convert real money like Philippine peso to virtual currencies like bitcoin, and vice versa, will “soon be required to register and report to the central bank.”

“[T]he Bangko Sentral recognizes that virtual currency (VC) systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion,” stated the circular.

BSP, the sole authority that can issue money in the Philippines, has yet to regulate cryptocurrency. But the growing number of bitcoin remittances in the country has caused the central bank to become “concerned with potential money laundering and consumer protection.